Polypropylene Market Size, Share, Price Trends, Report 2023-2028

The latest research study by IMARC Group, “Polypropylene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” offers a detailed analysis of the polypropylene market prices, drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

The global market size reached US$ 127.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 160.8 Billion by 2028, exhibiting a growth rate (CAGR) of 3.9% during 2023-2028. Polypropylene (C₃H₆) n, also referred to as polypropene, represents a flexible and crystalline thermoplastic resin acquired by the polymerization reaction of propylene gas and a catalyst. It provides resistance against heat, chemicals, and extreme temperatures, which makes it secure to design plastic casings in cables, electrical appliances, and piping systems. Additionally, polypropylene has flexible strength and resistance to bacteria, mold, moisture, and chemical corrosion, making it ideal for medical usage, especially sterilization methods. As a result, this substance is extensively utilized in injection molding applications as (C₃H₆) n is easily set into various shapes without altering the original product quality.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Polypropylene Market Trends and Drivers:

The escalating product need, owing to its excellent dielectric strength, insulating properties, and arc resistance, is among the primary factors driving the polypropylene market. In addition, the elevating requirement for (C₃H₆) n in the automotive industry to manufacture lightweight, energy-efficient, and cost-effective vehicles is further augmenting the market growth. Moreover, the emerging trend of online shopping and food ordering is propelling the need for effective packaging materials made with polypropylene, on account of its low density, durability, and heat resistance properties, which is also catalyzing the global market. Apart from this, the growing product popularity in the food and beverage (F&B) sector, as it minimizes deterioration and retains the authentic flavor of meals, is acting as another significant growth-inducing factor. In addition, the increasing need for this substance in the healthcare industry for manufacturing safety kits, such as medical masks and gowns, owing to the rising prevalence of infectious diseases, is also stimulating the market growth. Furthermore, the extensive utilization of (C₃H₆) n in several construction activities, including air and moisture barrier membranes, carpet textiles, piping systems, and insulating building wraps, is expected to bolster the polypropylene market in the coming years.

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Polypropylene Market Report Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

BASF SE, China Petrochemical Corporation, Daelim Co. Ltd, Exxon Mobil Corporation, Formosa Plastics Corporation, HPCL-Mittal Energy Limited (HMEL), INEOS, LG Chem Ltd., LyondellBasell Industries N.V., Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Sumitomo Chemical Co. Ltd., TotalEnergies SE, Trinseo PLC and Westlake Corporation.

The report has been segmented the market into following categories:

Breakup by Type:

• Homopolymer
• Copolymer

Breakup by Process:

• Injection Molding
• Blow Molding
• Extrusion
• Others

Breakup by Application:

• Film and Sheet
• Fiber
• Raffia
• Others

Breakup by End User:

• Packaging
• Automotive
• Building and Construction
• Medical
• Electrical and Electronics
• Others

By Geography:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:

• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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